Aart Kraay

TL;DR: In this paper, the authors investigated the effect of the large depreciation on household welfare operating through exchange rate-induced changes in consumer prices and found that the average welfare loss due to exchange rateinduced price increases was equivalent to 7.4 percent of initial expenditure.

TL;DR: This article found that 13.1 percent of respondents are highly likely to be reticent, and that these reticent respondents admit to sensitive acts at a significantly lower rate than possibly candid respondents when survey questions are worded in a way that implies personal wrongdoing on the part of the respondent.

TL;DR: The authors empirically examined the defensive lending hypothesis using data on lending by and repayments to the International Development Association (IDA), which is the largest provider of concessional development loans to low-income countries.

TL;DR: In this article, the authors address whether it makes economic sense for China to be a net creditor and how they see China's net foreign asset position evolving over the next 20 years, and calibrate a theoretical model of international capital flows featuring diminishing returns, production risk, and sovereign risk.